What is 1099 for Futures?
Titled "Substitute Composite Statement of 1099 Forms". This form reflects profit and loss from futures. Box 1a reports realized profit and loss for the year from futures, while box 1b displays realized profit and loss after 5/5/2003 when the new 15% capital gains tax was applied. Box 2a and 2b display aggregate profit and loss from futures using the same criteria as boxes 1a and 1b respectively. Box 3 shows interest income from futures, and box 4 displays commissions paid for futures transactions (commissions are not subtracted from boxes 1 and 2).